Jay Z

On Tuesday, campsite rental startup Hipcamp announced that Jay-Z’s Marcy Venture Partners and Will Smith’s Dreamers Fund joined the startup’s $25 million Series B funding round.
The startup is commonly referred to as the Airbnb for camping and lets users book campsites on private property or federal lands.
Andreessen Horowitz led the startup’s Series B, which was announced on July 24 and valued the company at $127 million, according to Pitchbook data.
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Camping has already gotten a makeover to become Glamping. Now it’s getting celebrity investors.

On Tuesday, Shawn “Jay-Z” Carter and Will Smith announced they were backing campsite booking startup Hipcamp. The startup had officially announced its $25 million Series B on July 24.

The two rappers-turned-entrepreneurs backed the buzzy startup, commonly referred to as the Airbnb for camping, through their respective venture capital funds Marcy Venture Partners and Dreamers Fund. The specific contribution amounts were not disclosed.

Read More: Stanford researchers found evidence that racial bias against venture-capital funds led by people of color increases the better the funds perform

Andreessen Horowitz led Hipcamp’s July Series B that valued the company at $127 million, according to Pitchbook …read more

Source:: Businessinsider – Technology

      

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